GEICO vs. Hastings Mutual: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for car insurance, GEICO offers less expensive prices than Hastings Mutual
• GEICO offers more affordable premiums for people who are single and purchasing insurance by yourself
• Hastings Mutual has cheaper prices for policyholders who don't have any speeding tickets, DUIs, or at-fault accidents on their record

GEICO vs. Hastings Mutual: Which Company has the Cheapest Car Insurance?

So, you're considering switching your auto insurance. With so many ads from all sorts of companies offering big discounts, you're probably wondering exactly how much you might be able to save.

You might have narrowed it down to GEICO or Hastings Mutual as your top options, but between the two, which carrier has more affordable rates for auto insurance?

Looking at the national average rates for both companies, Hastings Mutual is about $26 more per month than GEICO.

That being said, that doesn't necessarily mean GEICO will be the less expensive option for every single driver. After all, car insurance carriers can offer drastically different rates to each driver depending on rating factors like where you call home, your credit score, your driving record, or even your age (among other things), so premiums could vary drastically from person to person.

Wanting to know if GEICO or Hastings Mutual is really the right company for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

GEICO or Hastings Mutual: Average Car Insurance Rates by State

GEICO and Hastings Mutual compete against each other in six states, with Hastings Mutual offering cheaper rates to the average driver in all of them. If you live in Iowa or Ohio, Hastings Mutual is the more affordable of the two companies when looking at the overall average premiums. GEICO is the cheaper option in Illinois, Indiana, Michigan, and Wisconsin.

But there's more to calculating insurance prices than just where you call home. Read on to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for auto insurance compared to older drivers. It's generally because young, inexperienced drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

Even so, that doesn't mean that teen drivers have to just accept sky-high car insurance premiums. As you can see above, teens who use GEICO save $5 a month compared to those who use Hastings Mutual.

However, both carriers will decrease rates by the time you turn 25. For example, average prices for GEICO policyholders reduce more than 55% and Hastings Mutual's premiums lower over 45% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the lowest auto insurance rates you'll ever find. After all, they've likely been driving for quite some time, which usually reduces their chances of collisions and other infractions that can increase prices.

But who has the best premiums for retired drivers between GEICO and Hastings Mutual? GEICO gets the edge, with rates for drivers 65 and older more than 10% less expensive than the national average for Hastings Mutual.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance premiums tend to be more expensive for those who are single than they are for married couples. That's because policies for married policyholders typically cover several cars, which lots of companies will offer you a discount for.

When it comes to relationship status, the two carriers are comparable for single policyholders, with prices only differing around $23 per month, on average. The advantage for married drivers is more obvious, where drivers who use GEICO save nearly $30 a month.

GEICO vs. Hastings Mutual: Average Rates by Gender

Because men are more likely to get into collisions and get tickets, they have a higher chance of filing a claim with insurance. Therefore, insurance companies will tend to charge men more than women.

With GEICO, men usually pay about $10 per month more than women, and around $5 with Hastings Mutual.

Looking at overall affordability, GEICO comes out on top for both men and women. On average, male drivers save about $24 a month and women save about $27 with GEICO compared to the average Hastings Mutual policyholder.

GEICO or Hastings Mutual: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

For most people, car insurance can be pretty complicated. There are a variety of different coverages that account for multiple different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

The two most common policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers and passengers if you cause a collision) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to liability).

If you're looking for state minimum limits for liability insurance, GEICO generally offers significantly more affordable rates of $101 compared to Hastings Mutual's $142. When it comes to full coverage policies with similar limits, GEICO again has the edge, with policies around $10 per month less expensive than Hastings Mutual, on average.

Is GEICO or Hastings Mutual Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their auto insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that tickets and at-fault accidents lead to higher premiums, but which carrier -- GEICO or Hastings Mutual -- has the cheapest prices for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

GEICO policyholders can expect their rates to go up an average of $35 a month if they get a ticket, while Hastings Mutual normally raises prices about $20 per month, on average.

But Hastings Mutual has cheaper premiums for drivers in both categories, offering rates that are 5% and 14% more affordable, respectively, compared to GEICO.

Which Company is Best for Drivers After an Accident?

Both carriers will raise premiums pretty significantly if you get into an at-fault accident with GEICO increasing by $85. Hastings Mutual has a less extreme climb, but you can still expect to pay over $15 more than you were prior to your first collision.

Overall, Hastings Mutual offers the most affordable prices for drivers with an at-fault accident on their records, with monthly rates averaging $126 compared to GEICO's $200.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple speeding ticket or even an accident. On average, Hastings Mutual will raise your prices around 77% after a DUI, while GEICO's average rates climb by just under 60%.

If you have a DUI on your record and are looking for more affordable premiums, GEICO tends to be the much less expensive option with average prices of $275 monthly compared to $478 from Hastings Mutual.

How does Credit Score Impact GEICO and Hastings Mutual Rates?

You may not have known, but your credit score can come into play when companies calculate your monthly bill. This isn't always the case (Michigan, for example, has banned the use of credit score as a rating factor) but it will come into play for a lot of drivers.

The reasoning insurance carriers use is that policyholders with bad credit will be less likely to pay their bills on time; so typically, they'll be asked to pay more, while those with good credit will be rewarded with cheaper rates.

So, which company offers the lowest premiums for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, you'll usually find a better deal with GEICO. Policyholders with "excellent" credit can save over 20% compared to Hastings Mutual, and those with "good" scores can also expect to see savings -- about $29 or 15% more affordable every month.

Which Company is Best for Drivers with Bad Credit?

GEICO typically offers lower rates than Hastings Mutual when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay around $10 a month less with GEICO compared to Hastings Mutual, and those with "poor" scores usually save an average of about $22 per month.

Is GEICO or Hastings Mutual Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly car insurance payment. That's because the fewer miles you put on your vehicle, the less likely you are to get into a collision and cause an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Hastings Mutual charges. However, there's a small difference in monthly prices for GEICO, with policyholders who drive 6,000 miles yearly paying around $8 less each month compared to those who drive 12,000 miles every year. Still, GEICO is the less expensive option for drivers in both categories.

GEICO vs. Hastings Mutual: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can play a substantial role in how much you pay for insurance. Normally, those who live in urban areas will pay more than drivers in rural areas because there are a lot more cars on the road in those areas, which increases the chances of an accident.

Looking at these companies side-by-side, GEICO tends to offer the most affordable option for drivers in rural and urban areas, while Hastings Mutual wins in suburban areas.

In urban areas, GEICO's average prices are about 27% less than Hastings Mutual Insurance Company. Drivers in suburban ZIP codes pay around 4% less with Hastings Mutual compared to GEICO. If you live in a rural area, you can expect to save about 3% with GEICO compared to Hastings Mutual.

GEICO vs. Hastings Mutual Discounts

Regardless of why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by utilizing as many car insurance discounts as you can.

The hard part is finding all of the discounts you can take advantage of, since it can feel sometimes like every company has different discounts and each one is advertised differently.

In the section below, we've broken down all of the different discounts offered by both GEICO and Hastings Mutual so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

GEICO knocks Hastings Mutual out of the park when it comes to the sheer number of discounts available, offering 18 more discounts than Hastings Mutual.

A couple of those are overlapping for things like anti-theft discounts, discounts for being a good driver, and discounts for being a good student. GEICO also offers commercial drivers license discounts, COVID-19 relief discount, deployed driver discounts, and more that Hastings Mutual does not.

On the flip side, Hastings Mutual has a couple unique discounts of its own -- company car discounts, prior carrier discounts, and workloss exclusion discounts.

Final Thoughts: Is GEICO or Hastings Mutual Best for You?

So, we've broken down the average rates for many of the factors auto insurance carriers look at, and walked through the different discounts each carrier offers, too. That's all well and good, but when it comes down to it, which insurance company is the best fit for you?

GEICO might be best for you if....

• Your credit is below-average.
• You're looking for more protection with "full coverage" insurance.
• You have a short drive to work everyday.

Hastings Mutual might be best for you if...

• You have a clean driving record, free of collisions, tickets, or DUIs.
• You've been pulled over for speeding recently.
• Your home is located in the suburbs.

We hope this guide has ben a valuable resource as you compare GEICO and Hastings Mutual and that it aids in making a more informed decision about your car insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your insurance policy is to compare quotes from multiple companies, not just GEICO and Hastings Mutual. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

GEICO vs. Hastings Mutual FAQs

Is GEICO or Hastings Mutual cheaper?

Looking just at the national average premiums, GEICO is the more affordable of the two companies, offering average rates of $185 per month compared to $211 for Hastings Mutual. That being said, GEICO won't necessarily be the lowest carrier for each policyholder, since there are several different variables that come into play when it comes to your auto insurance cost.

Who is better, GEICO or Hastings Mutual?

Unfortunately, the real answer is "it depends.". No one company is necessarily "better" for everyone -- it all depends on the makeup of your unique insurance profile. For example, Hastings Mutual offers cheaper prices for policyholders with an at-fault collision on their record, while GEICO is less expensive for drivers who have less-than-stellar credit scores.

Why do GEICO and Hastings Mutual offer me different rates?

Car insurance carriers take a look at many different factors when calculating the rates they charge drivers. Variables like your driving record, age, gender, where you live, and sometimes even things like your credit score can all be used. Both GEICO and Hastings Mutual calculate premiums using different formulas, so each one will most likely offer different prices. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from many different companies.

How do I know if GEICO or Hastings Mutual is right for me?

The only way to find the auto insurance company that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best car insurance companies in your area. With those, you can guarantee you're getting the best price. And who knows, the best carrier for you might not be GEICO or Hastings Mutual at all!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.